Shiba Inu Price Plunges 6% As Whale Dumps 1.4T SHIB To KuCoin

Shiba Inu Whale Offloads Over 1.4 Trillion SHIB

According to a post on X by Whale Alert, a blockchain tracking platform, a Shiba Inu whale dumped over 1.4 trillion SHIB tokens today. To be precise, $1.407 trillion SHIB tokens were moved from an unknown wallet to KuCoin, a renowned global crypto exchange. The transaction was worth $43.50 million.

Furthermore, such a selloff triggered speculations since Shiba Inu whales have been silent lately as no other major transactions were noted in the past 24 hours. However, analysts are still optimistic about the ambitious $0.01 target for the Shiba Inu price.

As reported by Coingape earlier, the Shiba Inu price is currently grappling with a significant resistance hurdle at $0.000032. A breakthrough past this obstacle may pave the way for a surge towards $0.00004, potentially laying the groundwork for a monumental ascent to $0.01.

Conversely, a downward trajectory could see the coin retracting to a support level of $0.00003. In the event of a prevailing bearish sentiment, SHIB might experience further decline. Moreover, it could reach as low as $0.00002 and even potentially slip below $0.00001, signaling a turbulent period ahead for the meme coin.

Also Read: Shiba Inu Community Reacts As Binance Calls Everyone ‘NFTs,’ SHIB To Reach $0.01?

Shiba Inu Price Decline

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